PolkaBridge July 2022 Update

PolkaBridge
4 min readAug 7, 2022

PolkaBridge journey has been gaining steam despite the market wide slow growth and the bear market atmosphere. We are still busy expanding our team, research and begin work on some innovative ideas and interesting concepts, burn some PBR tokens, provide new interesting investment opportunities for our community via the Launchpad and other general updates. Let’s delve in to the important highlights for July 2022.

PolkaBridge 11th Buyback And Burn

PolkaBridge organized yet another buy back and burn event for PBR token on 15 July, when another 1 million or 1,000,000 tokens were burned and taken out of circulation. The total burn value was $50,000, circulating supply now is 55 million, maximum supply 77 million and until now 23 million PBR tokens have been burned.

Partnership With Celer Network

The PolkaBridge team partnered with Celer Network — a blockchain interoperability platform on July 13 to bridge our native PBR tokens over to the Binance Smart Chain (BSC) blockchain. This will allow our users to hold/use the tokens on multiple blockchains.

Ask Me Anything (AMA) Session With Celer Network

We had an ask me anything (AMA) session with Celer Network on 13 July, which was attended by Mr Steve Yu — Business Development. He provided an update of the Celer Nework, discussed matter of mutual importance and elaborated on the present/future of the PolkaBridge/Celer partnership.

PolkaBridge Insights Platform — Update

Since our content creation and management platform PolkaBride Insights is about to be launched in the month of August, we published a detailed overview on July 12. It was a compilation of all the information that our community needed to know about the new PolkaBridge product, it’s aims and objective, current status and how our community can benefit from it!

PolkaBridge Technical And Developmental Update

We also published a technical and developmental update on 17 July to inform about the community after the status of active PolkaBridge DApps under development. It included information on revamping the user interface/user experience, integration of more wallets into our DApps, P2P marketplace and an update on the PolkaBridge Insights platform.

Launch Of PBR Staking Program On BSC

As at 18 July, we have launched a PBR staking program on the Binance Smart Chain (BSC) which we recently added support for. This will incentivize users to hold tokens long term and to earn rewards by locking up tokens for usage in the PolkaBridge ecosystem. The average annual percentage yield (APY) is around 50%.

PolkaBridge Indian Telegram Group

Since PolkaBridge is an international project and there is a substantial Indian community involved in the project at this point, we have launched a PolkaBridge Indian Telegram group on July 20! This will serve as a unifying point for the Indian community members from all walks of life and different areas of expertise.

PolkaBridge x Galaxy Blitz INO

We held our new initial NFT offering (INO) Galaxy Blitz on 26 July — 28 July. The NFTs offered featured part of an interstellar blockchain based game which allows gamers to participate in interstellar battles, build their fleet, coordinate with other players and run strategy to conquer the universe!

KUCOIN Rewards Program

We also announced a rewards program in conjunction with the popular KUCOIN exchange on 22 July which aims to reward users with 223,000 PBR tokens and upto 45% staking APR. This is to incentivize our long term holders aligned with the ethos of the project.

GEMS IDO On PolkaBridge

We also held an IDO offering for GEMS — an Esports 3.0 aggregator platform on 27 July. This is an extremely unique and interesting project which is likely to reward investors with significant ROI in the future. To introduce our community better, we also had an IDO with Ms Anjelica — GEMS partnership manager on 26 July.

Gate.Io Announces Support For BSC Based PBR Tokens

Gate.io exchange announced on 30 July that it will allow deposit and withdrawal of PBR tokens from/to Binance Smart Chain (BSC) blockchain. This will make it easier for users to migrate tokens across and participate in the ecosystem!

PolkaBridge Launchpad — Outlanders Refund

On 31 July, we announced the refund procedure the Outlanders IDO held earlier because of the delay/non transparency in listing the tokens. Also they didn’t honor the commitments made earlier. Since PolkaBridge team always strives to protect its community, we decided to refund the money instead of continuing with them further.

Introducing PolkaBridge✨

PolkaBridge is a decentralised all-in-one financial application platform. The PolkaBridge ecosystem includes Multichain & Cross-Chain AMM, Farming, Staking, Lending, Launchpad, P2P Exchange, INO NFT, and more. All products will be developed with Polkadot in the centre.

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PolkaBridge

The first decentralized bridge between Polkadot platform and other blockchains